0058 GMT - Hong Kong's Hang Seng Index faces risk of multi-week corrective decline, based on the chart, Oanda's Kelvin Wong says in an email. Hang Seng Index's latest uptrend from Jan. 13 to March 19 has reached overstretched condition, the senior market analyst says. This is indicated by recent bearish divergence signaled by daily relative strength index in overbought territory on March 20, Wong says. Also, HSI has begun to trade below its 20-day moving average since March 25, which boosts odds that three-month uptrend may have reached the terminal point on March 19. Key medium-term resistance is at 24980, where HSI will probably form a potential multi-week corrective decline, Wong adds. HSI closed at 23578.80 on Thursday. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
March 27, 2025 20:58 ET (00:58 GMT)
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